FREQUENTLY ASKING QUESTIONS

Why should I go to XCELSIOR and not my bank for a loan?

The whole process takes about 30 minutes.  Unlike the mainstream financial institutions, applying for a loan at XCELSIOR is simple and easy. We don’t conduct lengthy credibility assessments, nor do we care whether you’re blacklisted or not. The value of your vehicle simply determines the loan amount you qualify for. We thus don’t take your creditworthiness into account whatsoever. Plus, the whole application process takes less than an hour. No forms to fill in and no fuss. With XCELSIOR it is simply quicker and easier.

What documentation does XCELSIOR need for me to apply for a loan?

XCELSIOR only needs a copy of your ID/Passport, Drivers Licence and the original registration papers of the vehicle in your name. The application process doesn’t involve any other paperwork.

What is the minimum and the maximum loan amounts that I can borrow from XCELSIOR?

XCELSIOR will lend from a minimum of R5 000 and a maximum of R500 000. The value of the assets you deliver as security will determine your loan amount.

How do I know how much I can qualify for from XCELSIOR?

XCELSIOR determines the value of your vehicle and (based on this value) calculates the loan amount.

How long does it take until I receive the cash?

XCELSIOR prides itself on being fast and efficient. Our loan process, from start to finish, will take approximately 30 minutes. You can have your cash, transferred to the account of your choice, within 30 minutes from application.

Does XCELSIOR need to know what I use the money for?

No, XCELSIOR handle all transactions professionally and with the utmost discretion. We don’t ask any personal questions.

What does XCELSIOR accepts as security?

XCELSIOR accepts motor vehicles, bakkies, SUVs, trucks, motorbikes and motorised sports vehicles, like jet skis as security. All vehicles need to be in a good and drivable condition. Please view some of the vehicles we’ve taken as security here.

Why does XCELSIOR keep my vehicle?

Just like the banks, who take your property or policy as security, XCELSIOR keeps your vehicle as security on your loan. Your vehicle is returned to you, in the exact same condition as what we’ve received it in, as soon as you’ve settled your loan.

Where does XCELSIOR store my vehicle?

XCELSIOR stores all vehicles in a secure facility, manned by security guards. The storage park also has electric perimeter fencing, strict access control and 24-hour surveillance cameras and motion detector beams. Please click here to view some of the security measures that are permanently in place.

Who will drive my car to our secure storage facility and back?

Only a competent driver, with at least five years of driving experience, permanently employed by XCELSIOR, will drive your vehicle to our secure storage facility and back to branch where loan was processed.

Does XCELSIOR have insurance for my vehicle while being in its possession?

XCELSIOR is insured with a reputable and leading insurance company in South Africa. The insurance covers accident, theft, fire and hail damage. However, XCELSIOR advises clients to maintain their own insurance cover up-to-date and in force for the duration of their loan.

Will my car be used by XCELSIOR at any time during the loan period?

Your vehicle will never be driven during the course of the loan, except when being delivered. It safely stays at our storage facility until it is returned to the client upon repayment of the loan.

What if I cannot settle the loan with XCELSIOR?

We always keep a client’s best interests at heart. Should you be unable to repay the full amount due to XCELSIOR, we will extend the contract – providing that the total interest is paid in full on the due date.

In the unfortunate event that a client is unable to fulfil their part of the contract and settle their loan or just wish to sell their vehicle instead, XCELSIOR will sell the vehicle to recuperate all funds. Should there be a balance remaining from the sale of the vehicle, this will be paid out to the client. We pride ourselves in being the only company in our industry to do so.